The Impact of Internet Finance on China’s Residents’ Consumption

DOI

10.2991/assehr.k.191221.125How to use a DOI?

Keywords

Internet finance, Consumption, Impact mechanism

Abstract

In recent years, China’s economic development has slowed down and is in a critical period of transforming its economic structure. China’s development plays an important role in promoting sustainable economic development. Therefore, the importance of expanding domestic demand should not be ignored. The emergence and development of Internet Finance fill the gap in some aspects of traditional finance, making the level of financial model more abundant. Even in the current downward economic growth, it still promotes the sustained growth of household consumption. This paper tries to analyze the impact of Internet Finance on residents’ consumption from a more comprehensive perspective by combining theory with empirical research. Firstly, the author summarizes the current situation of Internet finance development through analysis. Thereafter, the author studies the influence mechanism of Internet Finance on residents’ consumption from the perspectives of the increase and decrease of residents’ consumption demand, the influence of consumption psychology and the change of consumption mode. On the basis of the above analysis of the current situation and related theories, this paper conducts a quantitative test and empirical analysis of the relationship between household consumption and the development of Internet finance in different provinces of China from the first quarter of 2014 to the first quarter of 2016. Using the panel data model and linear regression analysis method, this paper draws the conclusion that the healthy development of Internet finance will positively affect residents’ consumption. Finally, based on the relevant conclusions of this study, the author gives policy recommendations for possible problems and risks, in order to better promote the sustainable development of Internet finance and the rapid growth of consumer spending.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Xuanjie Zhang
PY  - 2020
DA  - 2020/01/09
TI  - The Impact of Internet Finance on China’s Residents’ Consumption
BT  - Proceedings of the 2019 3rd International Conference on Education, Economics and Management Research (ICEEMR 2019)
PB  - Atlantis Press
SP  - 515
EP  - 521
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.191221.125
DO  - 10.2991/assehr.k.191221.125
ID  - Zhang2020
ER  -